Super Star Ltd. makes an issue of 10,000 Equity Shares of Rs. 100 each, payable as: `{:("On application and allotment"," Rs. 50 per share,"),("On first call"," Rs. 25 per share,"),("On second and final call"," Rs. 25 per share."),(,):}` Members holding 400 shares did not pay the second and final call and the shares are duly forfeited, 200 of which are reissued as fully paid-up @ Rs. 50 per share. Pass Journal entries in the books of the company.

Super Star Ltd. makes an issue of 10,000 Equity Shares of Rs. 100 each

1.	Super Star Ltd. makes an issue of 10,000 Equity Shares of Rs. 100 each, payable as: `{:("On application and allotment"," Rs. 50 per share,"),("On first call"," Rs. 25 per share,"),("On second and final call"," Rs. 25 per share."),(,):}` Members holding 400 shares did not pay the second and final call and the shares are duly forfeited, 200 of which are reissued as fully paid-up @ Rs. 50 per share. Pass Journal entries in the books of the company.
Answer» Correct Answer - Capital Reserve-Rs. 5,000.

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